Copper is trading near its highest levels in the last five months following China's announcement of measures to boost consumption. Over the weekend, the Chinese authorities presented a special plan aimed at increasing demand. The country's copper consumption started growing faster at the beginning of the year, which helped offset the negative impact of Trump's tariffs on Chinese exporters. Retail sales increased by 4% in the first two months, exceeding analysts' forecasts. The price of industrial metal has increased by about 12% this year due to market volatility caused by tariffs and a shortage of supplies from mines. However, the real estate sector in China, which is an important consumer of metals, has not yet reached the bottom: prices for new buildings continued to fall last month, despite the efforts of the authorities to support the market. On the London Metal Exchange, copper rose 0.22%, reaching $9,817 per ton, after futures rose 0.7%. On Friday, prices reached $9,850, which was the highest value since October. Aluminum also increased in price by 0.3%, amounting to $2,690 per ton, due to record performance of shares of China Hongqiao Group Ltd, one of the largest aluminum producers in the world. Aluminum production in China increased by 2.6% to 7.32 million tons in the first two months, which corresponds to a record high of 124,068 tons per day, indicating the stability of smelters, which are receiving high margins amid rising prices.
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